Tag: Johnson Controls Security Systems
Johnson Controls to sell JCSS to Versar for $20m
September 11, 2015Martha Entwistle
SPRINGFIELD, Va.—Johnson Controls (JCI), which has shed a number of businesses in recent months, on Sept. 4 signed an agreement to sell its specialized federal security integration business, called Johnson Controls Security Systems (JCSS), to Versar, a government-services business located here, for $20 million.The deal is expected to close by Oct. 1, according to Michael McManus, Imperial Capital managing director. Imperial Capital advised JCI on the deal. JSCC has approximately 50 employees....